Christie’s Expands Presence In The Hawaii Real Estate Market
a record year in 2013 with sales top-ping $7.13 billion, the highest for any auction house in the history of the art market.
“Christie’s art sales have eclipsed all others and opened portals in Europe and Asia for real estate sales through their wholly owned subsidiary, Christie’s International Real Estate network,” says Cedric Choi, JD, (RA), Managing Director of Choi International, Christie’s exclusive real estate affiliate in Honolulu.
The growing Christie’s International Real Estate network has been described by Regional Senior Vice President Zackary Wright as an “assemblage of the greatest real estate companies in the world.”
“What sets Christie’s apart is that the auction company owns the real estate company, which is vertically integrated and gives it a great advantage in dealing with high-end clients,” Choi says.
Christie’s affiliates include Brown Harris Stevens of New York, Pacific Union of San Francisco and Hilton & Hyland of Beverly Hills, whose principal, Rick Hyland, noted that being part of Christie’s has given his company access “to the greatest Rolodex” of wealth in the world.
In entering the Hawaii market, Christie’s affiliated with established leaders in marketing luxury properties. Maui Estates International was selected as an exclusive affiliate for Maui, Lanai and Molokai. In fact, the sales team includes some of Maui’s top real estate professionals. Last year Christie’s awarded affiliate status to Island Resort Property LLC on the Big Island, based on the company’s “industry expertise and veracity, coupled with high standards of quality and outstanding client service,” according to Wright.
Choi International, named Christie’s exclusive Honolulu affiliate in October 2013, is the most recent addition to the Christie’s real estate network in Hawaii. The company markets exclusive properties that currently include a $28 million estate on Kahala Avenue, a $20-plus million estate on Kailua Beach, and luxury condominiums such as Hokua.
Patricia Choi, who leads the luxury marketing division of Choi International, is known around the world for her innovative marketing talent. She has consistently ranked among the top Realtors in the United States and has been recognized as “one of the 35 Most Influential People in Luxury Real Estate in the nation.”
“Christie’s has committed substantial resources to its growing real estate network and to expanding its reach into Asia,” Choi says. “In 2013, Christie’s held its first art auction in Shanghai, China and the auction company opened a new branch in Singapore. Also, Christie’s International Real Estate named a new Singapore real estate affiliate, SQFT Global Properties.”